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Following are the transactions of Dennen, Inc., for the month of January. a. Borrowed $30,000 from a local bank b. Lent $10,000 to an affiliate;

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Following are the transactions of Dennen, Inc., for the month of January. a. Borrowed $30,000 from a local bank b. Lent $10,000 to an affiliate; accepted a note due in one year. c. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $5 per share; received cash. d. Purchased $15,000 of equipment, paying S5,000 cash and signing a note for the rest due in one year e. Declared and paid $2,000 in dividends to stockholders. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts and determine ending account balances. Beginning balances are provided. Answer is not complete. Cash Notes Reccivable Beg. Bal Beg. Bal 900 30,000 500 1,000 10,000 10,000(b) 5,000(d) End. Bal 11,000 End. Bal 16,400 Notes Payable 3,000 30,0(a) 10,000) Beg. Bal 15,100 Beg. Bal 5,000 End. Bal 30,100 End. Bal 43,000 Common Stock Additional Paid-in Capital Beg. Bal 1,000 Beg. Bal 3,000 10 (c) 490(c) End. Bal 1,010 End. Bal 3,490 Retained Earnings Beg. Bal 10,000 2,000 End. Ba 8,000

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